ArabFinance: Egyptian International Cooperation Minister Rania Al-Mashat participated in the launch of the World Economic Forum's (WEF) initiative on a partnership between non-profit organizations and the public and private sectors to back climate finance, according to a statement by the Egyptian ministry on January 17th.

The new initiative is consistent with the calls and goals of the COP27 climate conference by stimulating additional funding from non-profit organizations in climate finance and moving from pledges to implementation.

"Together with the World Economic Forum, we will work to build effective partnerships between non-profit organizations, governments, and the private sector to advance climate action," Al-Mashat said.

The participants of the event are expected to hold dialogues to forge understanding and alignment and exchange insights, drive tangible action on key global issues in gatherings of communities of purposeو and have opportunities for foresight and discovery to scale society critical innovations, the forum said on its official website.

"So much is at stake we really need to find solutions on the wars and conflicts. We also have to secure that we don’t go into recession and we have ten years of low growth as we had in the 1970s," Borge Brende, the World Economic Forum president, said.

The World Economic Forum Annual Meeting kicked off in Davos, Switzerland, on January 16^th, with a call for "Cooperation in a fragmented world", with the participation of Egypt.

The meeting will also see attendance by 56 finance ministers, 19 central bank heads, 30 trade ministers, and 35 foreign ministers.
It will convene more than 2,700 leaders from 130 countries, including 50 heads of state and government, as multiple crises deepen divisions and fragment the geopolitical landscape.

This year will also see the highest-ever business participation at Davos, with more than 1,500 leaders from 700 organizations.

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